Key regions: Russia, China, Spain, Canada, United Kingdom
The Meat Market in China is experiencing slow growth due to factors such as increasing consumer health consciousness and the convenience of online food services. This is reflected in the negligible growth rate of the Fresh Meat, Processed Meat, and Meat Substitutes sub-markets. However, with the rising demand for healthier and sustainable food options, the Meat Market is expected to see a gradual growth in the future.
Customer preferences: As China's population becomes more affluent, there has been a noticeable shift towards higher quality and premium meat products in The Food market. This trend is driven by a growing awareness of food safety and health concerns, as well as a desire for more diverse and exotic flavors. In addition, there has been a rise in demand for organic and sustainable meat options, as Chinese consumers become more conscious of the environmental impact of their food choices. This change in preferences also reflects the influence of Western diets and dining habits among Chinese consumers.
Trends in the market: In China, the Meat Market within The Food market is experiencing a significant shift towards plant-based meat alternatives. This trend is driven by increasing health consciousness and concerns over environmental sustainability. Major players in the industry are investing in research and development to create innovative and affordable plant-based products. This trend is expected to continue in the coming years, with the potential to disrupt traditional meat markets. As a result, industry stakeholders need to adapt to changing consumer preferences and invest in alternative meat options to stay competitive in the market.
Local special circumstances: In China, the Meat Market within The Food market is heavily influenced by the country's cultural preferences and government regulations. The demand for pork, chicken, and beef is driven by the tradition of consuming meat as a symbol of prosperity and good luck. At the same time, strict food safety regulations have been implemented to address public health concerns, leading to the rise of organic and traceable meat products. Additionally, the large population and diverse regional tastes create a highly competitive market, with different provinces specializing in their own unique meat dishes.
Underlying macroeconomic factors: The Meat Market within The Food market in China is heavily influenced by macroeconomic factors. The country's strong economic growth, rapid urbanization, and increasing disposable income have led to a rise in demand for meat products. Additionally, government policies promoting food safety and quality have resulted in higher consumer confidence in domestically produced meat. However, global economic trends, such as trade tensions and fluctuating commodity prices, can also affect the cost of imported meat and impact market performance. Furthermore, the ongoing COVID-19 pandemic has disrupted supply chains and consumer behavior, further shaping the dynamics of the Meat Market in China.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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